Open trading account 
Like I mentioned in my yesterday blog post, I am currently flat. I mainly trade the Euro and with the single currency settling into a range, I would rather wait for a brakeout then risk getting whipsawed.
The two events next week that may act as a price catalyst are the ECB Bank Stress Tests and the FOMC meeting. The Stress Test results will be announced tomorrow on Sunday, although if a recent leak proves to be accurate, the effect on EUR/USD will likely be minor. A leaked version of the report on Friday claims that 25 banks failed the test and will need extra capital. The leak lead to a small rally in the Euro but later in the day the common currency gave back most of the gains.
On Wendesday, the FOMC meeting will likely be the crucial event to determine the next direction for the Dollar denominated pairs like the Euro. But I will write more on the FOMC as we get clloser to the event. Stay tuned!
The two events next week that may act as a price catalyst are the ECB Bank Stress Tests and the FOMC meeting. The Stress Test results will be announced tomorrow on Sunday, although if a recent leak proves to be accurate, the effect on EUR/USD will likely be minor. A leaked version of the report on Friday claims that 25 banks failed the test and will need extra capital. The leak lead to a small rally in the Euro but later in the day the common currency gave back most of the gains.
On Wendesday, the FOMC meeting will likely be the crucial event to determine the next direction for the Dollar denominated pairs like the Euro. But I will write more on the FOMC as we get clloser to the event. Stay tuned!
